Quanta Services (NYSE:PWR) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Quanta Services (NYSE:PWR) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $520.00 price objective on the construction company’s stock.

Several other brokerages also recently issued reports on PWR. Mizuho set a $415.00 price objective on Quanta Services in a research report on Tuesday, October 28th. Weiss Ratings raised Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. upgraded Quanta Services from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $457.00 to $515.00 in a research report on Monday, December 8th. Argus set a $540.00 price objective on Quanta Services in a research report on Friday, October 31st. Finally, Roth Mkm set a $500.00 target price on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $460.20.

Quanta Services Stock Performance

Shares of PWR stock opened at $468.75 on Friday. The stock has a fifty day moving average price of $443.81 and a 200 day moving average price of $419.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market cap of $69.90 billion, a PE ratio of 69.44, a P/E/G ratio of 2.27 and a beta of 1.16. Quanta Services has a 1 year low of $227.08 and a 1 year high of $483.29.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. Quanta Services had a return on equity of 18.74% and a net margin of 3.74%.Quanta Services’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.72 earnings per share. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Sell-side analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $443.81, for a total value of $6,213,340.00. Following the transaction, the executive vice president owned 34,575 shares of the company’s stock, valued at approximately $15,344,730.75. This trade represents a 28.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total transaction of $2,859,907.05. Following the sale, the director directly owned 2,730 shares of the company’s stock, valued at approximately $1,229,728.50. This trade represents a 69.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,002 shares of company stock worth $14,295,857 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quanta Services

A number of large investors have recently modified their holdings of PWR. Copia Wealth Management grew its holdings in Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company’s stock worth $25,000 after acquiring an additional 56 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Quanta Services in the second quarter valued at about $26,000. Activest Wealth Management raised its stake in Quanta Services by 94.1% during the third quarter. Activest Wealth Management now owns 66 shares of the construction company’s stock valued at $27,000 after buying an additional 32 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Quanta Services during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Company Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.